SABB is also looking to incorporate Demica’s supplier onboarding tool to enable secure collection of KYC information, Demica said in a statement. After deploying and integrating the solution, Demica continued to work closely with SABB to deliver new products and functionality.
Saudi Arabia-based lender SABB is 40% owned by HSBC Holdings. It recently merged with Alawwal Bank to create Saudi Arabia’s third-biggest lender, in a USD 5 billion deal that marked the first banking tie-up in the kingdom in two decades.
Demica provides Working Capital Solutions to large corporates and financial institutions.
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